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McAfee Probed for Stock Option Backdating

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At a glance:

McAfee is being formally investigated by the SEC over the possible backdating of stock options.
 
This type of manipulation, if not disclosed, is illegal. The purpose of the practice is to have the option-holder make a larger profit upon sale of the stock.
 
Dozens of companies are currently being investigated, or are investigating themselves, for smiliar abuses.

SEC Launches Formal Investigation into McAfee Stock Options

Insurance Journal - 6/12/2006 12:47 PM

McAfee Inc. said that securities regulators have opened a formal investigation into the possible manipulation of the company's stock options -- an area of concern that recently prompted the software maker to fire its top lawyer.
 
The Securities and Exchange Commission notified the Santa Clara, California-based company of the investigation in a subpoena delivered Wednesday, according to regulatory documents filed Friday.
 
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